William Hill resumes CFO search after incoming candidate pulls plug
Adrian Marsh to stay with international packaging firm DS Smith through “unprecedented circumstances” and increased demand
William Hill has recommenced its search for a new chief financial officer after incoming Adrian Marsh confirmed he would no longer be joining the company.
Marsh – who was pinpointed in February to take over from existing CFO Ruth Prior – will instead remain in his current role as group financial director of international packaging firm DS Smith, due to the current “unprecedented circumstances” affecting the UK as a result of the coronavirus pandemic.
Roger Devlin, chairman of the board of directors at William Hill, said: “Whilst we note the reasons for Adrian’s decision, William Hill is focused on taking the necessary steps required in these unprecedented times to protect the interests of its stakeholders. We will provide an update in due course.”
William Hill has confirmed current CFO Prior, who is currently serving out her notice period before leaving to take up a role with Element Materials Technology, will continue as CFO until a replacement is sourced.
EGR understands the recruitment process is at an advanced stage, with a new appointment expected to be announced soon.
It is also understood that Marsh’s current firm DS Smith had not yet recruited a replacement, allowing him the opportunity to remain with the business. In January, DS Smith was reportedly close to hiring David Mellors, current CFO at manufacturing firm Cobham, but this never materialised.
The significant uptake in business at the firm due to the current Covid-19 pandemic, coupled with the lack of recruitment for a replacement, necessitated taking steps to retain Marsh.
William Hill expects company EBITDA to be negatively impacted by between £100m and £110m for 2020 following the cancellation and rescheduling of events including the UEFA European Championships, Grand National and Royal Ascot.